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“I don’t want divulge in to how they are diverting, but I think the RBI has taken very considered decision and they have also done by purchasing gold,” FM Sitharaman added.
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The demand for gold has also been supported by global market trends, particularly the increasing focus of central banks on gold reserves
Central bank buying has been among the reasons for the sustained upmove in gold this year, backed by demand in Asia and a lingering geopolitical uncertainty.
Dhanteras 2023: Many jewelers offer gold schemes on Dhanteras that allow you to save and invest in gold over time. These schemes can be a practical way to buy gold for future use.
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Indians have long bought gold during the festive season. Tradition and religious sentiment play a vital role in the habit. But this festive season, prices too will be an important parameter because of the slide in recent months. Gold prices have actually decreased for six months on the trot. Has that caught your eye? If it has, what's the best way to buy gold right now? What are the factors you must keep in mind before investing? What are the different ways to buy gold? Watch this video to find out.
While business was good for the big jewellers, even the smaller ones have been able to wipe off their last year’s losses; a Rs 4,000 per gm fall in gold prices too helped.
Gold may not have given as high a return as equity, but gold is an asset that is a good hedge against uncertain times, like the one we are facing currently
Gold imports into India, the world's biggest gold buyer, hit a record 162 tonnes in May as global prices tumbled and buyers stocked up. Rural communities are particularly hungry for gold as an investment, given a lack of banking facilities outside towns.
Gold declined to Rs 27,320 per 10 grams and silver lost Rs 800 to Rs 41,500 per kg on reduced offtake by jewellers and industrial units.
Kripananda Chidambaram of Fintotal Insights and Resources very simply explains the noise revolving around the depreciating rupee and how does it impact the common man.
India, the world's biggest buyer of the metal, will celebrate Akshaya Tritiya on May 13, the biggest gold-buying festival after Dhanteras. The wedding season is on and will continue through July.
India's gold buying ebbed after the last key gold-purchasing festival of the wedding season earlier this week, while the listless performance in gold prices deterred interest of buyers elsewhere in Asia.
India gold buying retreated on Wednesday afternoon, as prices extended gains for a fourth session supported by a weaker dollar, though limited supplies pressured premiums upwards, dealers said.
